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EUR/CHF chart on Trading View used for analysis
- EUR/CHF trades 0.08% higher on the day at 1.1330 at 1150 GMT.
- The pair js extending upside after forming a double bottom at 1.1183.
- Technical studies are bullish, Stochs and RSI are sharply higher.
- Price action has broken above 55-EMA and is on track to test 110-EMA at 1.1360.
- Breakout at 110-EMA eyes next major resistance at 1.1433 (Nov 16 high) ahead of 200-DMA at 1.1487.
- Break below immediate support at 5-DMA could see weakness till double bottom at 1.1183.
Recommendation: Good to go long on dips, SL: 1.1292, TP: 1.1360/ 1.14/ 1.1430
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
